Stoneridge extends and loosens key credit covenants

Stoneridge, Inc. entered into Amendment No. 3 to its Fifth Amended and Restated Credit Agreement, which will amend and restate the existing credit facility from December 31, 2025 through a new termination date of July 1, 2027.

Rhea-AI Filing Summary

Stoneridge, Inc. entered into Amendment No. 3 to its Fifth Amended and Restated Credit Agreement, which will amend and restate the existing credit facility from December 31, 2025 through a new termination date of July 1, 2027. The amendment extends the facility’s expiration from November 2, 2026 to July 1, 2027, provides temporary covenant relief by lowering the minimum interest coverage ratio for 2026 quarters, and raises the maximum leverage ratio for quarters from December 31, 2025 through September 30, 2026 before tightening again from December 31, 2026. On December 31, 2026, borrowing capacity will be reduced from $175.0 million to the lesser of $157.5 million or the then current commitment, and the agreement also revises the definition of Consolidated EBITDA and updates affirmative covenants.

Insights

Credit and capital structure analyst

Stoneridge extends its main credit facility while easing and then re-tightening covenants.

Stoneridge has renegotiated its core bank credit agreement with PNC Bank and other lenders. The facility now runs from December 31, 2025 to a new termination date of July 1, 2027, giving the company a longer committed financing horizon.

The amendment temporarily relaxes financial covenants. The minimum interest coverage ratio is reduced to 1.60–1.75 for the first three quarters of 2026, returning to 2.50 from the quarter ended December 31, 2026. The maximum leverage ratio steps up to as high as 6.75 in mid-2026 before declining to 4.00 thereafter.

From December 31, 2026, borrowing capacity will fall from $175.0 million to the lesser of $157.5 million or the then current commitment, and definitions of Consolidated EBITDA and affirmative covenants are adjusted. Subsequent company filings will show how actual leverage and interest coverage track against these revised thresholds.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Stoneridge, Inc. (SRI) change in its credit agreement?

Stoneridge amended and restated its main credit facility, effective December 31, 2025, extending the termination date to July 1, 2027. The amendment also adjusts key financial covenants, borrowing capacity, the definition of Consolidated EBITDA, and certain affirmative covenants with its bank group.

How did Stoneridge (SRI) change its credit facility expiration date?

The company extended the expiration of its credit facility from November 2, 2026 to July 1, 2027. This longer commitment period provides an additional eight months of secured bank financing under the amended terms agreed with PNC Bank and the other participating lenders.

What new interest coverage ratios apply under Stoneridge’s amended credit facility?

The minimum interest coverage ratio is reduced to 1.60 for the quarter ended March 31, 2026, 1.70 for June 30, 2026, and 1.75 for September 30, 2026. It then reverts to 2.50 for the quarter ended December 31, 2026 and for subsequent periods.

How is the maximum leverage ratio changing for Stoneridge under Amendment No. 3?

The maximum leverage ratio increases to 3.75 for the quarter ended December 31, 2025, 6.25 for March 31, 2026, 6.75 for June 30, 2026, and 6.00 for September 30, 2026. It then tightens to 4.00 for the quarter ended December 31, 2026 and thereafter.

What happens to Stoneridge’s borrowing capacity under the amended credit facility?

On December 31, 2026, the borrowing capacity under the credit facility will be reduced from its current level of $175.0 million to the lesser of $157.5 million or the then current credit facility commitment. This change comes alongside other covenant and definitional adjustments.

Who are the key parties to Stoneridge’s amended credit agreement?

The amended credit agreement includes Stoneridge, Inc. and certain subsidiaries as borrowers and guarantors, PNC Bank, National Association as administrative agent, and various financial institutions as lenders. These parties collectively provide and administer the company’s revolving credit facility.

Where can investors find the full text of Stoneridge’s Amendment No. 3?

The complete Amendment No. 3 to the Fifth Amended and Restated Credit Agreement is filed as Exhibit 10.1. It is incorporated by reference and provides detailed terms beyond the summarized covenant, capacity, and definitional changes described in the current report.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/11/2026 - 05:15 PM Learn about SEC filing dates

0001043337FALSE00010433372026-03-062026-03-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 6, 2026

STONERIDGE, INC.

(Exact Name of Registrant as Specified in its Charter)

Ohio			001-13337			34-1598949
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(I.R.S. Employer Identification No.)

39675 MacKenzie Drive, Suite 400, Novi, Michigan 48377

(Address of Principal Executive Offices, and Zip Code)

(248) 489-9300

Registrant’s Telephone Number, Including Area Code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Shares, without par value			SRI			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

ITEM 1.01 Entry into a Material Definitive Agreement.

On March 6, 2026, Stoneridge, Inc. (the “Company”) entered into Amendment No. 3 to the Fifth Amended and Restated Credit Agreement (the “Credit Facility”) by and among the Company and certain of its subsidiaries as Borrowers, certain of its subsidiaries as Guarantors, PNC Bank, National Association, as Administrative Agent, and the financial parties thereto (“Amendment No. 3”). Amendment No. 3 amends and restates the Credit Facility in its entirety beginning December 31, 2025 and ending at the Credit Facility's amended termination date of July 1, 2027. Amendment No. 3 also provides for certain covenant relief and adjustments to terms and conditions as follows:

•expiration date of the Credit Facility is extended from November 2, 2026 to July 1, 2027;

•the current minimum interest coverage ratio of 2.50 will be reduced to 1.60 for the quarter ended March 31, 2026 1.70 for the quarter ended June 30, 2026, 1.75 for the quarter ended September 30, 2026 and 2.50 for the quarter ended December 31, 2026 and thereafter;

•the maximum leverage ratio was increased to 3.75 for the quarter ended December 31, 2025, increases to 6.25 for the quarter ended March 31, 2026, 6.75 for the quarter ended June 30, 2026, 6.00 for the quarter ended September 30, 2026 and 4.00 for the quarter ended December 31, 2026 and thereafter;

•on December 31, 2026, the current borrowing capacity of $175.0 million will be reduced to the lesser of $157.5 million or the then current Credit Facility commitment;

•modifications to Consolidated EBITDA (as defined); and

•modifications and additions to affirmative covenants.

The foregoing description of Amendment No. 3 does not purport to be complete and is qualified in its entirety by reference to the full text of Amendment No. 3, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

ITEM 2.03    Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 above is incorporated herein by reference.

ITEM 9.01    Financial Statements and Exhibits.

(d)    Exhibits

Exhibit No.			Description
10.1			Amendment No. 3 to the Fifth Amended and Restated Credit Agreement, dated March 6, 2026.
104			Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			Stoneridge, Inc.
Date: March 11, 2026			/s/ Matthew R. Horvath
			Matthew R. Horvath Chief Financial Officer and Treasurer (Principal Financial Officer)

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EX-10.1 1.7 MB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 22.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.7 KB